2023 (11) TMI 667 - THE COURT OF SPECIAL JUDGE, MPID FOR GR. BOMBAY AT BOMBAY

Seeking grant of Bail - applicant was not arrested during the investigation - cheating 13000 investors to the tune of Rs.5600 crores - HELD THAT:- The FIR, for the offences u/s 409, 465, 467, 468, 471, 474, 477- A, 120-B of IPC, u/s 3 of the MPID Act and sections 21(a), 21(b), 21(c) and 21(g) of the FCR Act, 1952 was registered way back in the year 2013. According to applicant, he has furnished all record and documents in the form of electronic data in soft copies, hard-disk, server and e-mails to the investigation agency. Today the applicant is present before the court pursuant to the fact he was served with the summons issued by this court. The investigation machinery choose not to arrest the applicant, for 10 long years, inspite of the fact that, the applicant was available. Rather, it can be gathered that the I.O. did not want his custody. The offences u/s 467 is punishable for imprisonment for life.

The prosecution has not placed any criminal antecedents on record except for the present case. There are no allegations that the applicant has not co-operated with the investigation agency. There will be no point in sending the accused in jail as investigation is completed and charge-sheet is filed.

It is directed that Applicant/accused Sunil Gupta, be released on execution P.R. bond of Rs.50,000/- with one or two sureties in the like amount - Today the applicant/accused Sunil Gupta, be released on furnishing Provisional cash bail of Rs.50,000/- - bail application allowed.